Aarkstore - Saudi Arabia Biometrics Market (2014-2019) Market Forecast by Technology, Application and Regions

Aarkstore - Saudi Arabia Biometrics Market (2014-2019): Market Forecast BY Technology, Application and Regions

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Published: Aug 2014  | 100 Pages

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Summary

Middle East region is emerging as a key growing region in global biometrics market, where countries such as UAE, Turkey and Saudi Arabia are exhibiting tremendous growth in overall biometrics market. Amongst all Middle East countries, Saudi Arabia is one of the fastest growing biometrics markets. The market for biometrics in Saudi Arabia is incrementing on the back of increasing IT spending, growth registered in biometric based access control systems, and increasing adoption of biometrics technologies across industry verticals. “Saudi Arabia’s Biometrics market” is in its nascent stage, where market is yet to witness swashbuckling growth. In global biometrics market, contribution of Saudi Arabia was mere 3% in 2013. Lack of awareness is the major factor, which has restricted the penetration of biometrics systems in the country. However, in the forecast period, the market for biometrics in the country is anticipated to register growth on account of increasing investments, government projects, expansion of BFSI and IT/ITeS sector, and introduction of e-passports & visas. Saudi Arabia’s Biometrics Market is projected to reach $1.5 billion by 2019. The growth of the market would be majorly controlled by fingerprint biometrics technology. Ease of installation & usage and lower cost have led for the rapid adoption of fingerprint biometrics technology systems in the country. Over the next five years,...